Putin woos foreign investors

The Russian president pledges to refrain from capital controls while China’s Huawei and Fosun offer investment.

Russian President Vladimir Putin courted foreign investors for his flagging economy on Thursday, promising less red tape, no tax hikes and no foreign currency restrictions.

His reassurance followed a report that the Russian central bank was mulling introducing capital controls to prop up the rouble which dropped to record lows on Tuesday.

The Russian economy will likely flat line this year as Western sanctions tighten over Russia’s involvement in the Ukraine conflict. Putin called the sanctions “silly nonsense” to a crowded room of investors in Moscow’s World Trade Centre. He warned that the sanctions “in the long run will damage the global economy and the full extent...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222